MIRA INFORM REPORT

 

 

Report Date :

06.09.2013

 

IDENTIFICATION DETAILS

 

Name :

Gemini Corporation

 

 

Registered Office :

Waterwilgweg 6, Antwerpen, 2050

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2012

 

 

Year of Establishments:

1989

 

 

Com. Reg. No.:

438488597

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Wholesaler of waste and scrap

 

 

No. of Employees :

17

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory 

Payment Behaviour :

Slow but Correct 

Litigation :

Clear

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Belgium

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

belgium ECONOMIC OVERVIEW

 

This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to volatility in world markets. Roughly three-quarters of Belgium's trade is with other EU countries, and Belgium has benefited most from its proximity to Germany. In 2011 Belgian GDP grew by 1.8%, the unemployment rate decreased slightly to 7.2% from 8.3% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 4.2% in 2011 and 3.3% in 2012. Fourth quarter GDP growth in 2012 was at -0.1%, the third consecutive quarter of negative growth. This brought economic growth for the whole of 2012 to negative 0.2%. It also left Belgium on the brink of a possible recession at the end of 2012. However, at year's end, the government appeared close to meeting its 2012 budget deficit goal of 3% of GDP. Despite the relative improvement in Belgium's budget deficit, public debt hovers around 100% of GDP, a factor that has contributed to investor perceptions that the country is increasingly vulnerable to spillover from the euro-zone crisis. Belgian banks were severely affected by the international financial crisis in 2008 with three major banks receiving capital injections from the government, and the nationalization of the Belgian retail arm of a Franco-Belgian bank.

 

Source : CIA

 

 

Company name & address

 

Gemini Corporation

Waterwilgweg 6

Antwerpen, 2050

Belgium

Tel:       03 254 04 14

Fax:      03 254 04 28

 

 

Synthesis     

 

Employees:                  17

Company Type:            Private Independent

Incorporation Date:         1989   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2012

Reporting Currency:       Euro

Annual Sales:               150.0  1

Total Assets:                 15.0

 

 

Business Description     

 

Wholesale of waste and scrap

 

Industry             

Industry            Miscellaneous Wholesale

ANZSIC 2006:    3322 - Metal and Mineral Wholesaling

ISIC Rev 4:        4669 - Wholesale of waste and scrap and other products n.e.c.

NACE Rev 2:     4677 - Wholesale of waste and scrap

NAICS 2012:     423930 - Recyclable Material Merchant Wholesalers

UK SIC 2007:    4677 - Wholesale of waste and scrap

US SIC 1987:    5093 - Scrap and Waste Materials

 

           

Key Executives   

 

Name

Title

Shashi Prakash Bhansali

Administrator

Ved Prakash Lata

Administrator

Kumar Surana Rakesh

Administrator

Steven Andre Vyvey

Representative/Auditor

Sooreyndra Kumar Borad

Chairman of the Board of Directors

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7782366

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7566

 

 

Corporate Overview

 

Location

Waterwilgweg 6

Antwerpen, 2050

Belgium

Tel:       03 254 04 14

Fax:      03 254 04 28

           

Sales EUR(mil):             116.8

Assets EUR(mil):           11.4

Employees:                   17

Fiscal Year End:            31-Dec-2012

Industry:                        Waste Management Services

Incorporation Date:         1989

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(VAT):     438488597

 

Chairman of the Board of Directors:

Sooreyndra Kumar Borad

 

Industry Codes

ANZSIC 2006 Codes:

3322     -          Metal and Mineral Wholesaling

3739     -          Other Goods Wholesaling Not Elsewhere Classified

 

ISIC Rev 4 Codes:

4669     -          Wholesale of waste and scrap and other products n.e.c.

4690     -          Non-specialized wholesale trade

 

NACE Rev 2 Codes:

4677     -          Wholesale of waste and scrap

4690     -          Non-specialised wholesale trade

 

NAICS 2012 Codes:

423930  -          Recyclable Material Merchant Wholesalers

423990  -          Other Miscellaneous Durable Goods Merchant Wholesalers

 

US SIC 1987:

5093     -          Scrap and Waste Materials

5099     -          Durable Goods, Not Elsewhere Classified

 

UK SIC 2007:

4677     -          Wholesale of waste and scrap

4690     -          Non-specialised wholesale trade

 

Business Description

Wholesale of waste and scrap

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

116.8

Assets:

11.4

Current Assets:

10.0

 

Fixed Assets:

1.3

 

Total Liabilities:

11.4

 

Issued Capital:

0.8

 

Net Worth:

0.8

 

 

 

Date of Financial Data:

31-Dec-2012

 

1 Year Growth

-1.0%

NA

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Sooreyndra Kumar Borad

 

Chairman of the Board of Directors

Chairman

 

 

Executives

 

Name

Title

Function

 

Shashi Prakash Bhansali

 

Administrator

Administration Executive

 

Ved Prakash Lata

 

Administrator

Administration Executive

 

Kumar Surana Rakesh

 

Administrator

Administration Executive

 

Krishan Prajapati Ram

 

Administrator

Administration Executive

 

Steven Andre Vyvey

 

Representative/Auditor

Accounting Executive

 

Age: 40

 



Annual Profit & Loss

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

Period Length

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.778237

0.71919

0.755078

Consolidated

No

No

No

 

 

 

 

    Turnover

150.0

153.0

116.9

    Other Operating Income

0.1

0.0

0.0

Operating Income

150.2

153.0

116.9

        Purchases

141.8

147.8

111.7

        Increase or Decrease in Stocks

1.7

-1.4

-0.8

    Raw Materials, Consumables, and Goods for Release

143.4

146.3

110.9

    Services and Sundry Goods

3.0

2.9

2.4

    Remuneration, Social Security Charges, and Pensions

1.3

1.3

1.4

    Depreciation of and Other Amounts Written Off of Formation Expense, Intangible and Tangible Fixed Assets

0.2

0.2

0.2

    Other Operating Charges

0.0

0.0

0.0

Operating Charges

147.9

150.8

115.0

    Income From Current Assets

0.0

0.1

0.1

    Other Financial Income

0.1

0.1

0.2

Financial Income

0.1

0.2

0.2

    Interest and Other Debt Charges

0.2

0.2

0.2

    Amounts Written Off on Current Assets

-

0.0

0.0

    Other Financial Charges

0.5

0.4

0.8

Financial Charges

0.8

0.6

1.0

    Transfer from Differed Taxes

0.0

-

-

    Transfer to Differed Taxes

0.0

-

-

    Income Taxes

0.6

0.6

0.4

Income Taxes

0.6

0.6

0.4

    Transfer from Untaxed Reserves

0.0

-

-

    Transfer to Untaxed Reserves

0.1

-

-

    Employees

17

16

20

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.7566

0.770327

0.745406

Consolidated

No

No

No

 

 

 

 

        Land & Buildings

1.6

1.7

1.4

        Furniture and Vehicles

0.1

0.2

0.4

        Assets Under Construction and Advance Payments

-

-

0.1

    Tangible Assets

1.8

1.9

1.9

        Shares

0.0

0.0

0.0

        Amounts Receivable and Cash Guarantees

0.0

0.0

0.0

        Other Capital Assets

0.0

0.0

0.0

    Capital Assets

0.0

0.0

0.0

Fixed Assets

1.8

1.9

1.9

        Goods Purchased for Resale

2.1

3.8

2.5

        Stocks

2.1

3.8

2.5

    Inventory and Orders in Progress

2.1

3.8

2.5

        Trade Debtors

10.5

9.9

3.6

        Other Amounts Receivable

0.1

0.3

0.3

    Amounts Receivable Within One Year

10.5

10.1

3.9

        Other Investments and Deposits

0.3

0.7

0.6

    Investments

0.3

0.7

0.6

    Liquid Assets

0.0

0.0

0.0

    Adjustment Accounts

0.3

0.4

0.1

Current Assets

13.3

15.1

7.1

Total Assets

15.0

17.0

9.0

        Issued Capital

1.1

1.1

1.1

    Capital

1.1

1.1

1.1

    Gain From Revaluation of Assets

0.6

0.6

0.6

        Legal Reserve

0.1

0.1

0.1

        Untaxed Reserves

0.1

0.1

0.1

        Reserves Available for Distribution

0.1

0.1

0.1

    Reserves

0.3

0.3

0.3

        Deferred Taxation

0.0

-

-

    Provisions and Deferred Taxes

0.0

-

-

Capital and Reserves

8.2

6.9

6.0

        Credit Institutions

0.2

0.3

-

        Financial Debts

0.2

0.3

-

    Amounts Due After More Than One Year

0.2

0.3

-

        Current Portion of Amounts Payable After More Than One Year

0.1

0.1

-

        Credit Institutions

2.3

3.5

0.2

        Financial Debts

2.3

3.5

0.2

        Suppliers

2.8

5.4

2.3

        Trade Debts

2.8

5.4

2.3

        Advances Received on Orders in Progress

0.2

0.1

-

        Taxes

1.1

0.5

0.4

        Remuneration and Social Security

0.1

0.1

0.1

        Taxes, Wages, and Social Security

1.2

0.7

0.5

    Amounts Payable Within One Year

6.6

9.7

3.0

    Adjustment Accounts

0.1

0.1

0.0

Creditors

6.8

10.1

3.0

Total Liabilities + Shareholders' Equity

15.0

17.0

9.0

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.04

UK Pound

1

Rs.103.11

Euro

1

Rs.86.99

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.